I’d reframe it in a broader context than a decentralized immutable ledger. I’m lacking the clarity to make a broader statement, so here’s just an example: DAO’s

I’d reframe it in a broader context than a decentralized immutable ledger. I’m lacking the clarity to make a broader statement, so here’s just an example: DAO’s and prediction markets. Both involve in some sense, a form of decentralised governance - where the entity being governed is self-sovereign. A ledger implies we have some functions that apply transactions on rows. A smart contract blockchain (which is a gratuitous interpretation of the author’s referral to blockchain), is more of a collection of self-sovereign entities/systems in the form of programs. While something like a DAO is clearly just a decentralized voting pool, something like a prediction market, which are composed further by other self-governed systems (the validators, the bidders, etc), have micro and macro characteristics for which a ledger-oriented interpretation wouldn’t suffice.